4 New Condo Towers With 1,400 Units Proposed For Miami's Brickell Area

  

Brickell Heights condos rendering, Miami, FL

MIAMI, FL -- As the South Florida condo market rebounds from the devastating crash of 2007, a pair of developers in unrelated deals are proposing a combined four new condo towers with nearly 1,400 units across the street from each other in the Brickell Avenue Area of Greater Downtown Miami, according to a new report from CondoVultures.com. 

Nine at Mary Brickell Village rendering
 Miami, FL

The newly proposed condo projects - the three-tower Brickell Heights complex and the Nine At Mary Brickell Village with one tower - are slated to be the latest additions to a 12-block stretch of South Miami Avenue where at least 12 towers with more than 3,900 units are now proposed or under construction, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

Peter Zalewski

In the Greater Downtown Miami market, a combination of domestic and international developers - in unrelated projects - are proposing to construct 39 towers with nearly 11,500 new condo units in a market that stretches from the Julia Tuttle Causeway south to the Rickenbacker Causeway, and Biscayne Bay west to Interstate 95 as of August 23, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

Overall in the tricounty South Florida region, developers are now proposing nearly 21,250 units for coastal Miami-Dade, Broward, and Palm Beach counties as of August 23, 2013, according to the Preconstruction Condo Projects Database™.

Brickell CityCentre rendering
Downtown, Miami, FL

"A one-mile stretch of South Miami Avenue in the Brickell Avenue Area of Greater Downtown Miami is quickly emerging as the most active submarket for preconstruction condo projects in all of South Florida," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC.

 "Developers are rushing to this submarket to acquire land and launch presales as soon as possible in hopes of being the first to deliver new condo units while the market is hot.

“The driving factor for the condo developers is the widespread belief that Swire Properties' $1 billion Brickell CityCentre mixed-use development at Seventh Street and South Miami Avenue will change the face of Greater Downtown Miami.

"The unanswered question is whether too much condo product is being proposed too soon for the Greater Downtown Miami market to absorb."   

For a complete copy of the company’s news release, please contact:

 Condo Vultures® LLC

225 Midtown Building

 225 NE 34th St.,

Suite 209B,

Downtown Miami, Florida, 33137.

800-750-0517.